October textile exports dip 15pc

Pakistan's exports of textile and clothing post a negative growth of 15.23 per cent in October from a year ago, data compiled by the Pakistan Bureau of Statistics (PBS) showed.

High energy cost was one of the reasons for the slowdown in textile exports besides the non-disbursement of refund payments. Refund payment orders for Sept 16 to Oct 17 period are still unpaid and if the situation continues the November textile export may dip further, feared exporters.

In absolute terms, the export proceeds of textile and clothing fell to $1.35bn in October from $1.60bn over the corresponding month of last year.

Between July and October, exports of textile and clothing fell by 1.34pc to $5.94bn against $6.02bn over the corresponding months of last year.

The exports of valueadded products posted negative growth across the board while exports of cotton recorded a 100pc growth in October. The exports of raw cotton stood at 1,725 tonnes in October from a year ago.

Data showed that ready-made garments exports jumped 2.46pc in value and 58.79pc in quantity in July-October.